Whether you are a new stacker or a veteran. Whether you have a stack of thousands of ounces or less than 100 we are all susceptible to straying off our strategy path. I feel it is important to try to identify these deviations as soon as possible and correct your course before any real damage is done.
I have recently noticed my stacking strategy slipping off the track and I wanted to share it with you.
I have recently found myself buying several examples of all of these new releases that are hitting the market. Bullion that I don’t normally stack but am justifying their purchase by saying it is part of my collection and not my stack. I have also been justifying many purchases so I can have subject matter for videos. When I took a close look at all the bullion I have purchased over the past 90 days, I discovered that it comprised almost entirely of what I consider collection items and not bullion being added to my stack.
I really had to catch myself because I was accumulating many ounces of silver that I really didn’t want….. all in the name of collecting! I stack primarily American Silver Eagles and when I make a purchase, it is usually well timed and in some pretty decent quantities but lately I’ve been making many micro purchases of two or three of that latest thing to hit the streets.
Then I began to notice while making the Top Ten Bullion Dealers Silver Prices Video that just about every two weeks…. somebody somewhere is putting out a new silver product or even a new series of products.
I took pause and realized my focus for collecting was taking over my stacking and I just can’t let that happen. I sat down and took a hard look at my collection and made some decisions on what I really want to collect so I could regain my stacking focus once again! And for those items that I do decide to continue to collect, I will limit myself to no more than of two of each as that should be more than sufficient.
I need to stay true to my stacking strategy and get back to accumulating precious metals for wealth retention and limit my collection to a reasonable percentage.
For me it should be somewhere between 10 and 15% of my total precious metals holdings.
It will be tough to limit myself but my silver stacking strategy priorities are to retain wealth and not necessarily to amass a collection of premium silver.
I will consider any purchases made with the intent to flip to be allowed outside of my collection percentage limitations and funds gained from sales will be divided 80% for the purchase of stack foundation silver and 20% will be allocated for future collection pieces and flipping purchases.
I’m very thankful that I took the time to review my inventories and purchase history so I could make the necessary correction to get back on track with my silver stacking strategy.
So, you may want to take a moment to do the same. Are you still on track with your stacking strategy or have you veered off the path? Do you need to make any adjustments to get yourself back on track? Let me know in the comments section below.